 Trade In this Item for up to £23.10
Get an extra £5 when you trade in books worth £10 or more until June 30, 2012. Trade in Monte Carlo Methods in Finance for an Amazon.co.uk gift card of up to £23.10, which you can then spend on millions of items across the site. Trade-in values may vary (terms apply). Find more products eligible for trade-in.
|
Frequently Bought Together
Product details
|
More About the Author
Product Description
Product Description
The book is packed with numerous examples using real world data and is supplied with a CD to aid in the use of the examples.
From the Inside Flap
We are on the verge of a new era of financial computing. Read the first page
Concordance
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Suggested Tags from Similar Products(What's this?)Be the first one to add a relevant tag (keyword that's strongly related to this product)
|
Sell a Digital Version of This Book in the Kindle Store
What Other Items Do Customers Buy After Viewing This Item?
Customer Reviews
Often you might find books reviewed most favorably by
leading academic researchers to fall far short of the praise constituting a legal liability for the author's employer and
inducing a suspicion that the reviewer had material interests at stake.
For this reason we are grateful that Amazon has a liberal return policy. This book however you will not want to send back.
It hits the mark in several important aspects:
1. Level of detail.
The presentation is detailed enough for you to be able to translate the description into computer code but not so detailed that this step is immediate.
This allows an elegant and fluent style of writing.
Descriptions that are detailed enough to translate into code immediately almost certainly lack aesthetic qualities and one usually does not read them again them once the relevant information has been extracted. This is not the case here. I find myself browsing the material again after some algorithm has already been implemented and enjoying the experience.
The author has the ability to articulate complicated concepts clearly and without resort to heavy notation.
2. Mathematical rigour.
The mathematics is impeccable. In my own experience this can be said of fewer than 10% of the books in the field of finance.
The prerequisites are minimal. You have to know the most basic properties of Brownian motion (barely more than the definition)
and be familiar with the notion of a probability density.
Nonetheless several highly interesting subjects are treated in much detail (for example effective dimensionality reduction in conjunction with the application of low discrepancy sequences).
3. Choice of subject.
The techniques discussed are those used by leading investment banks. This is unsurprising since the author himself works at such an institution. The book is quite different from one devoted to Monte Carlo methods in physics, genetics or polymer science.
4. Physical appearance.
Page size, page layout, font selection and binding are all of high quality. The book has a wealth of diagrams communicating interesting information.
I love it and believe that you will too.
to get anything out of the book.
I STRONGLY disagree with one reviewer who thinks
all one needs to know is :
1) The definition of Brownian Motion and
2) What a Probability distribution is.
FAT chance.
The book requires knowing Linear Algebra, Probability,
PDEs, Stochastic Modelling, and SDEs to be of any use.
Where's the CODE, baby!
There are very few examples put into code!
One reviewer on Amazon.com, says the book is so
detailed you don't need code. Funny, I have never
seen anything "so detailed" that an example (code)
would make the explanation less clear!
if you're a person who wants to have a "basic" understanding how to use MC for consulting or product pricing with examples, you got the wrong book (not mentioning that your maths must be pretty good).
if you're looking for an Excel example on how to price some basic options, i highly recommend Jackson & Staunton or Wilmott.
Listmania!
Look for similar items by category
Look for similar items by subject
Feedback
- Would you like to update product info or give feedback on images?
- I am the Author, and I want to comment on my book.
- I am the Publisher, and I want to comment on this book.
|
